Trump tells Asia summit US will not accept unfair trade

The U.S. will no longer tolerate “chronic trade abuses”, President Donald Trump told the Asia-Pacific Economic Cooperation (APEC) summit on Friday.

“We can no longer tolerate these chronic trade abuses and we will not tolerate them,” Trump told the meeting in Da Nang, Vietnam.

In a widely anticipated speech, Trump was expected to outline his vision for the U.S.’s trade relationship with Asia after he ditched the 12-nation Trans-Pacific Partnership shortly after coming to power.

Trump said he would not stand for the “audacious” theft of intellectual property and would confront “destructive” practices.

“We are not going to let the U.S. be taken advantage of anymore,” he told an audience from APEC, a 21-member group that includes the U.S.

“I am always going to put America first, the same way that I expect all of you in this room to put your countries first.”

The president offered renewed individual partnerships with the U.S. to promote trade.

“I will make bilateral trade agreements with any Indo-Pacific nation that wants to be our partner and that will abide by the principles of fair and reciprocal trade,” he said.

Trump said the U.S. was ready to work any country to achieve “mutually beneficial commerce” but would not enter broader agreements that were restrictive and surrendered sovereignty.

“Today, I am here to offer renewed partnership with America to work together to strengthen the bones of friendship and commerce between all of the nations of the Indo-Pacific and together to promote our prosperity and security,” he said.

“At the core of this partnership we seek robust trade relationships rooted in the principles of fairness and reciprocity.”